Land Value

Land value is the monetary worth of a piece of land—essentially the price a buyer is willing to pay and a seller is willing to accept in an open market. It depends on factors such as location, accessibility, permitted land use, physical features, demand in the real estate market, and the availability of public amenities like schools, hospitals, and transport facilities. Land value is important for property taxation, planning development projects, investment decisions, and determining compensation during land acquisition.

Example:

A plot of land close to a metro station in a major city will generally have a higher land value than an identical plot in a distant rural area because it offers better connectivity and development opportunities.